Cazoo raises £100m in Series B funding led by DMG Ventures to expand online car sales
The financing round was led by DMG Ventures to accelerate the shift to digital vehicle retail.
Cazoo operates an online marketplace for buying, financing and leasing used cars across the UK and continental Europe.
Cazoo has secured £100m in a Series B funding round led by DMG Ventures. Additional participation came from several backers including General Catalyst, Mubadala Capital, and Octopus Ventures.
The capital will support the company as it scales its digital marketplace for used vehicles across the UK. Founded by Alex Chesterman, the firm has experienced rapid early adoption since launching operations in December.
The fresh injection brings total funds raised by the business to over £180m within its first eighteen months. Operations have recently been adjusted to ensure safe distancing during vehicle handovers amidst broader public health measures.
Use of funds
- 01Expand into international markets
